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L’euro et les pays partenaires méditerranéens

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  • Loukas Stemitsiotis

Abstract

[fre] Cet article examine l’impact de l’UEM sur les 12 pays partenaires méditerranéens. Il conclut que l’introduction de l’euro aura probablement un impact positif sur cette région. Grâce à un environnement extérieur plus prévisible et plus transparent, les partenaires méditerranéens pourront mieux exploiter leur avantage comparatif à long terme. Ils bénéficieront également du fait que la croissance en Europe sera plus vigoureuse qu’elle ne l’aurait été en l’absence de l’UEM, ainsi que d’une source potentiellement plus compétitive de financements extérieurs. La création d’un point d’ancrage nominal stable en Europe offrira aux partenaires méditerranéens la possibilité d’adapter leurs régimes et politiques de change. Sur un plan plus général, la mise en place d’un cadre de gestion macro-économique saine en Europe, liée à la réalisation de l’UEM, aura sans doute des effets positifs sur la définition des politiques économiques dans la région méditerranéenne. Elle incitera les pays partenaires à mettre en oeuvre des politiques budgétaires et monétaires prudentes et à réaliser d’importantes réformes structurelles afin de mieux intégrer leur région dans l’économie mondiale. [eng] The euro and Mediterranean partner countries . The paper discusses the impact of EMU on the 12 Mediterranean partner countries. It argues that the introduction of the euro is likely to have a positive impact on the region. The Mediterranean partners will benefit from a more predictable and transparent external environment that will allow them to better exploit their comparative advantage in the long run. They will also benefit from stronger-than-otherwise output growth in Europe, as well as a potentially more competitive source of external financing. With the introduction of a stable nominal anchor in Europe, Mediterranean partners will have the opportunity to review their exchange rate regimes and policies. In a broader sense, the sound European macroeconomic policy framework under EMU is likely to spill over on to the formulation of economic policy in the Mediterranean. It will provide the partner countries with incentives to conduct prudent fiscal and monetary policies and to implement far reaching structural reforms to further integrate the region in the world economy.

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  • Loukas Stemitsiotis, 1999. "L’euro et les pays partenaires méditerranéens," Revue d'Économie Financière, Programme National Persée, vol. 52(2), pages 75-97.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_1999_num_52_2_3530
    DOI: 10.3406/ecofi.1999.3530
    Note: DOI:10.3406/ecofi.1999.3530
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